PEPE recently hit a new all-time high, continuing a three-month upward trend.
The rally was driven by an increase in PEPE’s price of over 20%, with a new ATH above $0.000014, and a gain of 55% in the past two days.
PEPE’s price action is consistent with expectations following the breakout of the bullish flag pattern, maintaining an upward trajectory.
After breaking above the 1.236 Fibonacci Retracement level at $0.00001316, $PEPE is poised to test higher targets including the 1.50 Fibonacci Retracement level at $0.00001572.
Although PEPE has been sold off from its recent peak of $0.00001300, it is still facing more bearish pressure.
However, finding support at the 1.236 Fibonacci level suggests a possible trend reversal.
Alternatively, the price increase could push the PEPE token towards the resistance level of $0.0000142, with a target of $0.000018 before a correction, according to Coingabbar’s predictions.
If the selling persists, a drop to the $0.00001 support level and a test of $0.0000088 could shake the confidence of holders.
Key Level:
Resistance: 0.000016000-0.000020000
Support Level: 0.000010000-0.000008000
(Personal opinion, not a recommendation)
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